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Finance 0
ETF Stories Of November: All About Retail, OPEC And Tax Cuts
The month of November was pretty eventful, as expected. A consensus carried out from 1950 to 2016 shows that November ended up offering positive stock returns in 44 years and negative returns in 23 years, per moneychimp.com, with an average return of 1.38%. But upbeat global economic events help U.S. equity gauges to score even higher this November. Among the key ETFs, SPDR S&P 500 ETF (SPY – Free Report) , SPDR Dow Jones Industrial Average ETF (DIA – Free Report) and PowerShares QQQ ETF (QQQ – Free Report) advanced about 3.2%, 4.1% and 2.4%,respectively, in the last one month (as of Nov 30, 2017). Let’s find... -
Finance 0
Economic Data And Forecasts For The Weeks Of December 4 And December 11
Here are my forecasts for upcoming economic data. Forecast Prior Observation Consensus Week of December 4 December 4 Factory Orders – October -0.4% 1.4 -0.4 Durable Goods Orders -1.2 2.0 Nondurable Goods Orders 0.4 0.8 December 5 International Trade – October -$47.5B -43.5 -47.1 PMI Services Index 54.7 54.7 54.7 ISM Services – November 59.6 60.1 59.0 December 6 ADP Employment Report – November 205K 235.0 192 Productivity – Q3 (r) 3.3% 3.0(p) 3.3 Unit Labor Costs ... -
Finance 0
E SPX Ramps Higher; Dollars Slumps And Gold Consolidates
VIX challenged its mid-Cycle resistance at 14.54 this week, breaking out above its November 15 high at 14.51. It has since made a 62% retracement. A further breakout above the Ending Diagonal trendlne suggests a complete retracement of the decline from January 2016, and possibly to August 2015. (Bloomberg) The “VIX Elephant” has awakened. And “50 Cent” is back. At a moment when political tumult is roiling markets, volatility trading patterns closely associated with two high-rolling, but unknown, investors have re-emerged. First, the trader who’s known as the Elephant for making big moves in the VIX — but who’s been surp... -
Finance 0
I Have Doubts About Bitcoin
Bitcoin and the blockchain technology are wonderful inventions; its anonymity, decentralized technology and speed of transaction just to mention a few features that have aroused supporters. The extension of competition into the domain of money that it represents is perhaps even more welcome, coming as it does after almost a century of completely dominant fiat currency regimes (or feeble gold exchange systems). A bit like the internet of the 1990s, many are the proponents of cryptocurrencies predicting and imagining all the wonderful things BTC and its technological brethren will accomplish. But is it really that great? As BTC-USD exchange ra... -
Finance 0
PulteGroup – Chart Of The Day
Today’s Chart of the Day belongs to PulteGroup (PHM). Last night, I was discussing with Carole of Melbourne Beach all the different ways I used Barchart to select the Chart of the Day and how useful all of their sorting tools are.Today I used Barchart to sort the Russell 3000 Index stocks first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or more.Next I used the Flipchart feature to review the charts for consistent price appreciation.Since the Trend Spotter signaled a buy in 8/15 the stock gained 32.94%. Pulte Corporation is a publicly held holding company whose subsidiar... -
Finance 0
The Market Rotation, The Volatility, And The Fear That Resides
Stocks across the board reached a fever pitch this past week. For the first time in 3 years the S&P made a 2 standard deviation weekly move. You must watch this crucial video market update to find out what to expect next week and the one indicator to watch like a hawk next week. This is a critical juncture in the market and there is a lot on the line.... -
Finance 0
Week In Review: Walgreens Boots Alliance Spends $420 Million For China Pharmacy Presence
Walgreens Boots Alliance (Nasdaq: WBA), a global retail pharmacy chain, will pay $420 million to acquire a 40% stake in Sinopharm Holding GuoDa Drug Store Co, the largest retail pharmacy chain in China (see story). GuoDa is a subsidiary of state-owned Sinopharm, the largest pharmaceutical company in China, and it is the industry’s revenue leader for the past five years, with nearly 3,700 stores in 70 major cities across China. Ping An Good Doctor, one of China’s most popular online medical platforms, plans a $1 billion IPO on the Hong Kong exchange during the first half of 2018 (see story). The platform can be used to consult ... -
Finance 0
USD/CAD To Exhibit Bearish Behavior On Hawkish BoC
Fundamental Forecast for Canadian Dollar: Bullish The Bank of Canada’s last interest rate decision for 2017 may spark further losses in USD/CAD should the central bank strike a hawkish outlook for monetary policy. Even though the BoC is largely anticipated to keep the benchmark interest rate at 1.00% on December 6, Governor Stephen Poloz and Co. may prepare Canadian households and businesses for higher borrowing-costs as the economy adds another 79.5K jobs in November. With the Unemployment Rate narrowing to an annualized 5.9%, the lowest reading since 2008, the BoC may emphasize that ‘less monetary policy stimulus will likely be re... -
Finance 0
Markets Roiled By Political Legal & Legislative Drama
U.S. equity markets experienced a volatile intraday trading session on Friday, as news unfolded throughout the day with respect to the ongoing DOJ Special Counsel legal investigation of the Trump administration and its potential involvement with Russian interference in the 2016 election, as well as to discussions and a final vote on tax reform/cuts in the Senate, as shown on the Daily charts below of the SPX and VIX. With regard to which one most influences the markets — political legal proceedings versus political legislative accomplishments — Friday’s action is indicative of a tug-of-war environment. If Friday... -
Finance 0
Markets Roiled By Political Legal & Legislative Drama
U.S. equity markets experienced a volatile intraday trading session on Friday, as news unfolded throughout the day with respect to the ongoing DOJ Special Counsel legal investigation of the Trump administration and its potential involvement with Russian interference in the 2016 election, as well as to discussions and a final vote on tax reform/cuts in the Senate, as shown on the Daily charts below of the SPX and VIX. With regard to which one most influences the markets — political legal proceedings versus political legislative accomplishments — Friday’s action is indicative of a tug-of-war environment. If Friday...
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